Italy’s financial markets regulator, Consob, has ordered
access to 12 websites to be blocked for offering financial services and
investment products without proper authorization. The action forms part of its
ongoing efforts to combat online financial fraud.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)
The order includes Elite-Flows Limited, Dryden Partners,
GoMarketsLtd, Atf GlobalX, LSEGCapital Limited, Roccanazionale IA, and PFT
Certx International Ltd, among others. Consob said one site,
www.elite-flows.com, offered products to the public without a required
prospectus, while others operated unlicensed trading platforms or provided unauthorized
investment services.
AI-Driven Fraud and Widening Enforcement
Consob frames the latest blocks within a broader shift in
fraud tactics, warning that online scams increasingly rely on emails, cloned
websites, fake celebrity and politician profiles and content generated by
artificial intelligence, including synthetic images, voices and videos.
The authority said these tools aim to trick investors into
harmful decisions, and it urged savers to verify that operators are authorized
and that prospectuses or white papers exist before investing.
Last month, Consob went beyond blocking websites and directly targeted social media promotion, asking Meta to deactivate a Facebook profile called “Rapporto Italia” that was pushing ads for an AI‑branded trading scheme dubbed “Renditix AI,” alongside ordering the blackout of nine related unauthorized investment sites.
Keep reading: Forex, CFDs and Crypto: Italian Investors Are Getting Younger—and Riskier
At the same time, the regulator stressed the growing scale
of its online enforcement, noting that this week’s 12 sites bring the total
number of websites blocked since July 2019 to 1,666.
Consob highlighted that it uses powers introduced under the
Growth Decree, the Capital Act and Law No. 8/2020, and pointed investors to its
“Watch for scams!” section and an information sheet dedicated to financial
fraud in the age of artificial intelligence.
Regulator Warns of Evolving Online Scams
Since July 2019, Consob has ordered the blocking of 1,666
websites operating without authorization. The regulator exercises powers under
Italy’s “Growth Decree,” “Capital Act,” and Law No. 8/2020, allowing it to act
against fraudulent financial intermediaries and illegal promotions.
In March, global financial regulators sharply increased their warning activity after a quiet February, signaling stricter oversight of unlicensed trading platforms. The UK’s Financial Conduct Authority (FCA
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol
Read this Term) led the surge with a 73% jump in warnings, while authorities in France, Italy, and Germany also boosted their efforts.
The report from Finance Magnates Intelligence even explains how Italy’s CONSOB can go beyond issuing alerts to fully block unauthorized forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term and crypto sites, showing a growing push to protect investors and maintain market integrity.
Italy’s financial markets regulator, Consob, has ordered
access to 12 websites to be blocked for offering financial services and
investment products without proper authorization. The action forms part of its
ongoing efforts to combat online financial fraud.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)
The order includes Elite-Flows Limited, Dryden Partners,
GoMarketsLtd, Atf GlobalX, LSEGCapital Limited, Roccanazionale IA, and PFT
Certx International Ltd, among others. Consob said one site,
www.elite-flows.com, offered products to the public without a required
prospectus, while others operated unlicensed trading platforms or provided unauthorized
investment services.
AI-Driven Fraud and Widening Enforcement
Consob frames the latest blocks within a broader shift in
fraud tactics, warning that online scams increasingly rely on emails, cloned
websites, fake celebrity and politician profiles and content generated by
artificial intelligence, including synthetic images, voices and videos.
The authority said these tools aim to trick investors into
harmful decisions, and it urged savers to verify that operators are authorized
and that prospectuses or white papers exist before investing.
Last month, Consob went beyond blocking websites and directly targeted social media promotion, asking Meta to deactivate a Facebook profile called “Rapporto Italia” that was pushing ads for an AI‑branded trading scheme dubbed “Renditix AI,” alongside ordering the blackout of nine related unauthorized investment sites.
Keep reading: Forex, CFDs and Crypto: Italian Investors Are Getting Younger—and Riskier
At the same time, the regulator stressed the growing scale
of its online enforcement, noting that this week’s 12 sites bring the total
number of websites blocked since July 2019 to 1,666.
Consob highlighted that it uses powers introduced under the
Growth Decree, the Capital Act and Law No. 8/2020, and pointed investors to its
“Watch for scams!” section and an information sheet dedicated to financial
fraud in the age of artificial intelligence.
Regulator Warns of Evolving Online Scams
Since July 2019, Consob has ordered the blocking of 1,666
websites operating without authorization. The regulator exercises powers under
Italy’s “Growth Decree,” “Capital Act,” and Law No. 8/2020, allowing it to act
against fraudulent financial intermediaries and illegal promotions.
In March, global financial regulators sharply increased their warning activity after a quiet February, signaling stricter oversight of unlicensed trading platforms. The UK’s Financial Conduct Authority (FCA
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol
Read this Term) led the surge with a 73% jump in warnings, while authorities in France, Italy, and Germany also boosted their efforts.
The report from Finance Magnates Intelligence even explains how Italy’s CONSOB can go beyond issuing alerts to fully block unauthorized forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term and crypto sites, showing a growing push to protect investors and maintain market integrity.
